Also the Brent market looks really tight (or is being really, really squeezed), dated-to-front is over $6 at the moment :
https://www.cmegroup.com/markets/energy ... tures.html
And the situation in Libya is getting worse :
https://www.spglobal.com/commodityinsig ... e-oil-fuel
Brent=$113.6(June) WTI=$107.91(July,Brent-5.69) Nymex gas=$6.17(June)
NBP =173.89p(June,Nymex+15.15) TTF=€131.500(July,Nymex+34.58) JKM=$37.095(August,Nymex+30.92)
Today 13:34 Lamprell plc (LAM)
Holding(s) in Company
https://www.investegate.co.uk/lamprell- ... 34553275Q/
On 24-Jun-2022, Premier Miton Group plc reduced from 5.553% to 0%.
Today 13:13 Echo Energy PLC (ECHO)
Result of Annual General Meeting
https://www.investegate.co.uk/echo-ener ... 13013239Q/
All resolutions put to the AGM passed.
Today 13:02 Thalassa Holdings Ltd (THAL)
Appointment of Broker
https://www.investegate.co.uk/thalassa- ... 0247EEPVJ/
it has appointed Peterhouse Capital Limited as its Broker with immediate effect.
Today 11:16 IOG PLC (IOG)
TR-1
https://www.investegate.co.uk/iog-plc-- ... 16393043Q/
On 24/06/2022, accounts managed on a discretionary basis by Lombard Odier Investment Managers group holding via Lombard Odier Asset Management (Europe) Limited reduced from 14.46% to 13.50%.
Today 09:46 China Pet &Chem Corp (SNP)
Report on Payments to Govts
https://www.investegate.co.uk/china-pet ... 46502867Q/
Surprised to see 30% of their taxes are paid in Angola, the rest China.
Today 09:45 Providence Resources (PVR)
Holding(s) in Company
https://www.investegate.co.uk/providenc ... 45012865Q/
Vevan Unlimited Company, now holds 94,655,735 ordinary shares of €0.001 each in the capital of the Company representing 8.83% of the issued ordinary share capital.
Today 09:13 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 13152755Q/
On 23-Jun-2022, Bank of America Corporation increased from 19.144% to 20.762% and adjusted their shares vs other formats.
Today 09:09 Capricorn Energy PLC (CNE)
Holding(s) in Company
https://www.investegate.co.uk/capricorn ... 09352752Q/
On 22-Jun-2022, Bank of America Corporation increased from 19.144% to 19.837% and adjusted their shares vs other formats.
Today 07:22 Capricorn Energy PLC (CNE)
Transaction in Own Shares
https://www.investegate.co.uk/capricorn ... 22462599Q/
They bought back 9,463 shares at 215.73p = £20,414.53
Today 07:05 Eco (Atlantic) O&G (ECO)
Successful US$12.3 million Equity Fundraise
https://www.investegate.co.uk/eco--atla ... 05042574Q/
is pleased to announce the successful completion of an equity fundraise of US$12.3 million...33,406,531 new common shares in the capital of the Company ("Common Shares") and 33,406,531 warrants to subscribe for Common Shares have been conditionally placed with, or subscribed for by new and existing institutional investors (including from South African focused investors), at a price of 30p (CAD0.48) per Placing Unit or Subscription Unit (as applicable and defined below) (the "Issue Price"). Each 30p unit comprises one new Common Share and one warrant to purchase one new Common Share at a price of US$0.40625 (33p; CAD0.5215) for a period of three years.
Current price is 26p, although got to 40p recently.
Today 07:00 Eco (Atlantic) O&G (ECO)
Eco Acquires Additional Interest in Block 3B/4B
https://www.investegate.co.uk/eco--atla ... 00072077Q/
has signed a farmout agreement (the "Agreement ") pursuant to which its wholly owned subsidiary , Azinam Limited ("Azinam "), will acquire an additional 6.25% Participating Interest in Block 3B/4B, offshore South Africa from the Lunn Family Trust (the "Vendor"), one of the shareholders of Ricocure (Proprietary) Limited...On Completion of the Acquisition, Eco Atlantic will, through Azinam, hold a 26.25% Participating Interest in Block 3B/4B, with strategic alliance partners, Africa Oil Corp., the Operator of the block, holding a 20% Participating Interest, and Ricocure, which holds the remaining 53.75% Participating Interest .....The aggregate dollar equivalent consideration payable by the Company to the Vendor under the Agreement is US$10m [mix of cash and shares]
Today 07:00 Petro Matad Ltd (MATD)
Final Results for Year Ended 31 December 2021
https://www.investegate.co.uk/petro-mat ... 00072060Q/
The Covid-19 control restrictions imposed by China at its land border crossings with Mongolia have started to ease. On 20 June, the northerly of the two oil export border crossings at Bayankhoshuu was opened and oil export from the PetroChina operated fields has resumed. The southerly oil export crossing at Bichigt remains closed. China has not yet opened the border crossing to the passage of consumables and equipment, although the oil field contractors are hopeful that this will happen soon. Transfer of personnel across the land borders is not expected to be allowed by the Chinese authorities in the near future; therefore, service providers are looking at flying in their crews when internal travel restrictions within China allow.
· Following the Cabinet resolution in April on expediting a solution to the land access issues for oil exploration and production companies, draft amendments to the Land Law have been prepared by the relevant ministries for presentation to Parliament to resolve the existing conflicts within the legislation. At the same time, Petro Matad is in dialogue with MRPAM to obtain the special purpose land certification for its areas of operation which will secure long-term land access. Until this certification is issued, land use permits are required to be granted by the local authorities and to date, in the province in which Petro Matad's Block XX Exploitation Area is located, they have not done so. Petro Matad is not the only operator impacted in this way.
· As of 31 December 2021, the Group's cash position was $8.2 million, including Term Deposits (Financial Assets) (31 December 2020: $1.0 million)
· The Group's net loss after tax for the twelve months ended 31 December 2021 was $2.1 million (31 December 2020: loss $3.2 million)
As we have said before, we are prioritising bringing Heron 1 into production and we are still targeting first oil this year.
Today 07:00 Caspian Sunrise plc (CASP)
Annual Report and Financial Statements
https://www.investegate.co.uk/caspian-s ... 00062055Q/
· Aggregate production for 2021 was 533,857 barrels (2020: 545,667) a decrease of approximately 2.2%
· Reserves at 31 December 2021 P1 15.1 mmbls & P2 26.3 mmbls (2020: P1 15.6 mmbls & P2 26.8 mmbls)
· Revenue: up 75% at $25 million (2020: $14.3 million)
· Loss after tax for the year $5.5 million (2020: $3.5 million)
· Cash at bank: $0.4 million (2020: $0.3 million)
· Total assets: $114.2 million (2020: $125.7 million)
As with much of Kazakh oil production our oil is transported to international markets via the Russian pipeline network, emerging as "Urals Oil" as our oil was until very recently termed once mixed with Russian oil. While we have not experienced any significant issues in delivering our oil, recent prices for Urals Oil have been some $25 - $35 per barrel below Brent prices.
While we will continue to look at early-stage projects, such as in 2008 when we acquired our interest in BNG, our concentration will be on cashflow positive producing assets and for the right projects we would look beyond Kazakhstan. A decade ago we looked at alternative energy projects but concluded the returns then available did not match those at BNG. The economics of alternative energy are now markedly better. We are therefore looking over time to become a diversified energy group rather than one focused solely on oil. In particular we are looking at wind energy projects....
the Board anticipates declaring the first dividend later this year.
[but at the same time, there is some concern about their viability as a going concern, a significant blockade of Kazakh oil has the potential to be terminal despite the alternatives they list. Down 15% today]
Today 07:00 Mosman Oil & Gas (MSMN)
Operations Update
https://www.investegate.co.uk/mosman-oi ... 00062071Q/
Production for the three months ending 31 March 2022 was 22,409 boe (Gross), 11,756 boe (Net attributable to Mosman). Final June quarter numbers will be announced in late July and in the interim Mosman advises the preliminary numbers for the two months ending 31 May 2022 are: 15,682 boe (Gross), 6,276 boe (net attributable to Mosman).
- In May production stopped at the Falcon well. An initial workover was attempted but was not successful. Planning is now underway to attempt to restore production.
Today 07:00 Touchstone Explrtn. (TXP)
OPERATIONAL UPDATE
https://www.investegate.co.uk/touchston ... 00072086Q/
provides an update on the operational progress across the Ortoire block, onshore Trinidad. Touchstone has an 80 percent operating working interest in Ortoire block....
· The pipeline from our Coho facility to the Central block has been completed, and hydrotesting is scheduled to commence this week upon which the pipeline will be ready for first gas.
· Upon completion of the tie-in, commissioning and handover of the pipeline, Coho natural gas production will commence with the expectation that production will increase over time to 10 MMcf/d (1,667 boe/d) gross, 8 MMcf/d (1,333 boe/d) net.
· Based on the current contractor schedule and expected pipeline commissioning and handover process, we are targeting full production in August 2022.
· Initial gross aggregate natural gas and associated liquids production from our Cascadura-1ST1 and Cascadura Deep-1 wells has been budgeted at 11,500 boe/d (9,200 boe/d net), and the Cascadura natural gas processing facility has been designed for a maximum gross capacity of approximately 200 MMcf/d of natural gas and 5,000 bbls/d of associated liquids (38,333 boe/d).
· We continue to wait for the approval of the Environmental Impact Assessment ("EIA"), with all the relevant reports and information submitted for regulatory review. Following the anticipated approval and submission of the required notice periods, we intend to proceed with construction of the surface facility, access roads, liquids pipeline and future development drilling locations. The onstream date of the Cascadura facility will be determined by the timing of receipt of the EIA approval.
Today 07:00 Arrow Exploration (AXL)
Arrow Announces Test Results of RCS-1 Well
https://www.investegate.co.uk/arrow-exp ... 00072081Q/
The RCS-1 well was spud on May 23, 2022. RCS-1 targeted a three-way fault bounded structure with multiple high-quality reservoir objectives on the Tapir Block in the Llanos Basin of Colombia. The well was drilled to a total measured depth of 8,656 feet (8,105 feet true vertical depth) and encountered six hydrocarbon bearing intervals totaling 55 net feet of oil pay....
We're encouraged by the material results of RCS-1, the third well on the Tapir block. RCS-1 identified new zones for further exploitation with flowing results returning better than expected.
Today 07:00 Savannah Energy Plc (SAVE)
First Gas Sales to Central Horizon Gas Company Ltd
https://www.investegate.co.uk/savannah- ... 00072090Q/
is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to Central Horizon Gas Company Limited...
Today 07:00 88 Energy Limited (88E)
Projects Update: Icewine East & Longhorn
https://www.investegate.co.uk/88-energy ... 00072079Q/
Licensing agreement signed with SAExploration, Inc. (SAE) for use of SAE's Franklin Bluffs 3D seismic survey data (FB3D), covering a significant area over the Project Icewine East leases. Critically, the FB3D covers an area over the SMD, SFS and BFF reservoir units, which are interpreted to extend from Pantheon Resources' (Pantheon) acreage onto Icewine East....Upfront license fee includes, as part of the initial payment, US$1.0M in new 88E shares...new exploration well currently being planned to spud in 2023... Project Longhorn production has increased over 70% since acquisition...the joint venture participants have agreed to accelerate the capital development program and the completion of the remaining four planned work-overs. As part of this agreement, 88 Energy has agreed to part fund its share of the anticipated US$3.5 million (net) in development capital through the issuance of US$3.0 million in 88 Energy shares (approximately 544 million shares at an issue price of A$0.008 per share, being the closing price of 88 Energy shares on the ASX on 24 June 2022) to Lonestar I, LLC ( Lonestar ), to fund Longhorn's working capital contributions towards the remaining CY2022 capital development program
[~4.3% dilution, but why can't they consolidate the shares....]
Today 07:00 Echo Energy PLC (ECHO)
Extension to publication of 2021 Accounts
https://www.investegate.co.uk/echo-ener ... 00082588Q/
AIM Regulation has granted the Company an additional period of up to two months to publish its annual audited accounts for the year ended 31 December 2021. The Company must therefore publish its annual audited accounts for the year ended 31 December 2021 (the "2021 Annual Report") by 31 August 2022 but will endeavour to do so as soon as possible. This additional period is in view of the adverse impact of COVID-19 having resulted in delays in the ability of the local Argentinian Santa Cruz Sur joint venture entity in which Echo holds a 70% interest (the "SCS JV") to provide information to its Argentinian auditor. As a result, the Argentinian auditor has been delayed in the finalisation of the SCS JV audit, which the Company now expects to be concluded during July 2022. ...
Whilst remaining subject to audit, the Company confirms that it expects to report revenues for the year ended 31 December 2021 of US$11.1m (2020: US$11.1m) and net long-term debt of US$29.0m as at 31 December 2021 (2020: $30.0m). As announced by the Company on 14 January 2022, total 2021 cumulative production from Santa Cruz Sur net to Echo's 70% interest in the Santa Cruz Sur assets was 567,370 boe (including 2,920 MMscf of gas).
They sneak in a production update (which is why I try to read even what look like routine announcements) - down a bit due to maintenance, but the new sales contracts more than make up for that
Today 07:00 Challenger Energy (CEG)
Uruguay Update
https://www.investegate.co.uk/challenge ... 00082098Q/
notes recent commentary on the recent Uruguay licensing round and in relation to its AREA OFF-1 petroleum licence offshore Uruguay, and provides the following context:
...three offshore blocks in Uruguay have been licenced ...Two blocks have been awarded to Shell - the shallow offshore block immediately adjacent to Challenger's OFF-1 block (AREA OFF-2), and one deep-water block (AREA OFF-7). ANCAP has reported that the work Shell committed to undertake in relation to these blocks in the initial 4-year exploration period includes the acquisition of new 3D seismic....
Challenger Energy considers the entry into Uruguay of two well regarded international companies, and the commitment by both to undertake sizeable and meaningful work programs during an initial exploration period (including 3D seismic acquisition and new well drilling), to be a highly positive development, validating both the Company's decision to enter Uruguay in 2020 and underscoring the solid technical foundation and excellent value proposition represented by the OFF-1 block.
Today 07:00 Genel Energy PLC (GENL)
Receipt of payments for KRI oil sales
https://www.investegate.co.uk/genel-ene ... 0005ERGYE/
Genel Energy plc ('Genel' or ‘the Company’) announces that all payments have now been received from the Kurdistan Regional Government (‘KRG’) relating to oil sales during March 2022....Following the receipt of the receivable recovery payment, Genel is now owed $68 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020.
Today 07:00 Lekoil Limited (LEK)
Litigation update
https://www.investegate.co.uk/lekoil-li ... 00082031Q/
provides the following update in respect of the claim by Mr Akinyanmi, in the Cayman Islands, seeking a declaration (amongst others) that the Share Allotment Resolutions passed at the Company's AGM on 21 December 2021 were ultra vires and void. Mr Akinyanmi has applied to the Court to: (i) add Lekoil Nigeria as a Plaintiff; (ii) add the parties to the Convertible Facilities Agreements as Defendants; and (iii) for certain ancillary orders and directions necessary to give effect to (i) and (ii). The Court has consented to Mr Akinyanmi's application.
Today 07:00 Great Eastern Energy (GEEC)
Notification of full year results
https://www.investegate.co.uk/great-eas ... 00081672Q/
will announce results for the year ended 31 March 2022 on Friday, 8 July 2022.
Today 07:00 Kosmos Energy Ltd (KOS)
Report on Payments to Govts
https://www.investegate.co.uk/kosmos-en ... 00048780P/
Kosmos Energy Ltd. has prepared the following consolidated report in respect of payments made to governments for the year ended 31 December 2021 in accordance with the Reports on Payments to Governments Regulations 2014
Today 07:00 Victoria Oil & Gas (VOG)
Change of Registered Office
https://www.investegate.co.uk/victoria- ... 00052035Q/
Victoria Oil & Gas Plc announces that its registered office address has changed to Scott House, Suite 1, The Concourse, Waterloo Station, London SE1 7LY, with immediate effect.
[Being based at Waterloo makes it easier to do a runner?!?]
Today 07:00 Cadogan Petroleum Plc (CAD)
Result of AGM
https://www.investegate.co.uk/cadogan-p ... 0000P247D/
The Annual General Meeting of Cadogan Petroleum plc was held on Friday 24th June 2022 at 2.00pm at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London EC3V 0HR. The Directors of the Company wish to announce that all resolutions proposed at the AGM were passed.
Today 07:00 UK Oil & Gas PLC (UKOG)
Director/PDMR Shareholding
https://www.investegate.co.uk/uk-oil--- ... 00081989Q/
CEO buys £1k
Friday 18:27 Shell plc (SHEL)
Director/PDMR Shareholding
https://www.investegate.co.uk/shell-plc ... 2738H1019/
the vesting of a conditional award granted on June 18, 2021 under the Powering Progress Share Award (“PPSA”).
Friday 18:00 Harbour Energy PLC (HBR)
Transaction in Own Shares
https://www.investegate.co.uk/harbour-e ... 00011916Q/
Harbour announces that it has purchased the following number of its ordinary shares of 0.002 pence each for cancellation.
Friday 16:57 BP PLC (BP.)
Transaction in Own Shares
https://www.investegate.co.uk/bp-plc--b ... 57131879Q/
They bought back 9,500,000 shares at 380.956p = £36,190,786.50
Friday 16:49 Shell plc (SHEL)
Transaction in Own Shares
https://www.investegate.co.uk/shell-plc ... 4930H1001/
They bought back 4,732,000 shares at £20.521 = £97,105,580
Friday 16:35 PJSC Tatneft (ATAD)
Result of AGM
https://www.investegate.co.uk/pjsc-tatn ... 35401828Q/
All approved
Friday 16:35 Arrow Exploration (AXL)
Price Monitoring Extension
https://www.investegate.co.uk/arrow-exp ... 35181839Q/
https://uk.finance.yahoo.com/quote/AXL.L/chart
On the day it's jumped +10.6% with a spike to +11%. Over the last 2 weeks it's down -24.2% having touched -35%.
Friday 16:35 Challenger Energy (CEG)
Price Monitoring Extension
https://www.investegate.co.uk/challenge ... 35441845Q/
https://uk.finance.yahoo.com/quote/CEG.L/chart
On the day it's jumped +13.6%. Over the last 2 weeks it's been in the usual range. [neighbouring blocks in Uruguay licensed to majors, see Monday]
Friday 14:42 Pennpetro Energy PLC (PPP)
Clarification re Farm-In, Tunisian Saouaf Licence
https://www.investegate.co.uk/pennpetro ... 42241744Q/
would like to clarify the recent RNS statement issued by Upland Resources Limited ("Upland") on 20 June 2022, which caused deep market uncertainty as to the status of its Saouaf permit in Tunisia and specifically as to the intending role of the Company. Upland sent official apologies to Pennpetro for the unintended consequences caused by the narrative in its announcement, and in his address to Pennpetro's management, Mr. Amin Azal Nasharuddin, a Board director of Upland Resources Limited, confirmed that Pennpetro retains the exclusivity to the Farm-In to the Saouaf Permit until 15 July 2022, while both parties use their best efforts to finalise and execute the Farm-Out Agreement currently in draft form.
Oops.
Friday 13:28 Argos Resources Ltd (ARG)
Licence PL001, Funding and Publication of Results
https://www.investegate.co.uk/argos-res ... 28031629Q/
The Company is currently in discussions with FIG regarding the terms on which a further extension of the PL001 Licence may be granted, to enable Argos to undertake the necessary technical work to progress the project. The Board expects that any extension beyond 31 December 2022 would be subject to certain technical commitments from the Company, which would require Argos to raise additional capital....
Mr Ian Thomson, OBE, Chairman of Argos, has agreed to provide a loan facility of up to £110,000 to the Company...The Loan Facility, along with the Company's existing resources of £100,000 as of 24 June 2022, will provide the Company with sufficient working capital until July 2023 [but would have failed going concern otherwise]